8. Term life insurance can protect you and even offer cash back during specific events in your life.

9. Should your business partner pass away, it can protect your business from financial loss.

10. When you pass away, it can ensure that your loved ones maintain their lifestyle.

Insurance is an important aspect to consider, especially if you want to do right financial planning. Before buying a policy, be sure to assess your long-term commitments and personal risk. It can also help you in the case of emergencies as you can request a withdrawal or loan.